According to Desmond Lachman of the American Enterprise Institute, Greece is approaching the final stages of its currency arrangement. There is every prospect that within two to three years, after much official money is thrown its way, Greece's euro membership will end with a bang.

Benn Steil's latest Forbes op-ed, co-authored with Dinah Walker, shows why Greece may turn out to be a deciding factor in the German elections. While it is widely believed that a fresh mandate for Chancellor Merkel means more robust German involvement to end the eurozone crisis, they show why the loss of her FDP coalition partner could mean the opposite.

Michael W. Hodin argues, "If aging populations can break out of traditional roles of dependency to contribute to social and economic life, societies can find the magical balance of growth and what is now called austerity."

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that with sovereign debt woes in Greece and Ukraine testing markets and governments, now might be the time for policymakers to rethink the architecture for resolving debt crises.

Willem Buiter discussed the current and future challenges of the Eurozone, including the sovereign solvency crisis and the possible restructuring of current sovereigns, Spain's current debt situation, the role of the European Central Bank, and the possible exit of Greeze from the Eurozone.

Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics, says Greece is nearing a turning point in its debt crisis. Mallaby predicts that "Greece is going to have to default, it's going to have to be restructured in its debt," and argues that policy-makers need to "prevent the fire from spreading out of Greece and causing trouble all across the eurozone."

European Union Commissioner for Economic and Monetary Affairs Olli Rehn expects negotiations on a new Greek aid plan between the EU, IMF, and Greek government will conclude "in the coming days," ahead of the EU finance ministers' meeting scheduled for June 20.

CFR Experts Guide

The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.

New Council Special Reports

Campbell evaluates the implications of the Boko Haram insurgency and recommends that the United States support Nigerian efforts to address the drivers of Boko Haram, such as poverty and corruption, and to foster stronger ties with Nigerian civil society.

Koblentz argues that the United States should work with other nuclear-armed states to manage threats to nuclear stability in the near term and establish processes for multilateral arms control efforts over the longer term.

The authors argue that it is essential to begin working now to expand and establish rules and norms governing armed drones, thereby creating standards of behavior that other countries will be more likely to follow.

2014 Annual Report

Learn more about CFR’s mission and its work over the past year in the 2014 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass.Read and download »